ABAYOMI ODUNOWO: Former Central Bank of Nigeria (CBN) Governor Sanusi Lamido must come clean in this case of Tilapia Swallowing the Whale
There have been several allegations leveled against the former Central Bank of Nigeria (CBN) Governor Sanusi Lamido regarding the issue of a Tilapia swallowing a whale. As someone who has come to see the former CBN Governor as an upright social commentator who worked tirelessly for the betterment of the Nigerian economy, it is disheartening to read such allegations.
Sanusi Lamido served as the CBN Governor from 2009 to 2014, and during his tenure, he was known for his outspoken nature and his commitment to rooting out corruption in the Nigerian financial system. His efforts to promote transparency and accountability were commendable, and he gained a reputation as a no-nonsense leader who was unafraid to speak truth to power.
The allegations of a Tilapia swallowing a whale first surfaced in 2014 when Sanusi Lamido made a statement during a Senate committee hearing. He claimed that the Nigerian National Petroleum Corporation (NNPC) had failed to remit $20 billion in oil revenue to the government, and likened the situation to a Tilapia swallowing a whale. This statement sparked controversy and led to a series of investigations and denials from the NNPC and the government.
The allegations against Sanusi Lamido on this issue have been met with skepticism and scrutiny. Many have questioned the validity of the claim and have accused him of making sensational and unsubstantiated remarks. However, it is important to consider the context in which the statement was made and to evaluate the credibility of the source.
It is worth noting that Sanusi Lamido has a track record of being a principled and ethical leader. Throughout his career, he has been a vocal advocate for good governance and has consistently spoken out against corrupt practices. His willingness to challenge the status quo and his commitment to the public good have earned him respect and admiration from many Nigerians.
Furthermore, it is important to recognize that the issue of corruption in the Nigerian government and financial system is a pervasive and deeply entrenched problem. The lack of transparency and accountability in the management of oil revenue has been a longstanding issue, and the allegations made by Sanusi Lamido shed light on the challenges that the country continues to face in this regard.
In light of these considerations, it is essential to approach the allegations against Sanusi Lamido with caution. While it is important to investigate and address any potential wrongdoing, it is also crucial to consider the broader context and to avoid rushing to judgment based on sensational claims.
Moreover, it is critical to remember that individuals in positions of leadership are often subjected to scrutiny and criticism, and it is not uncommon for them to become the targets of false accusations and smear campaigns. Given Sanusi Lamido’s track record and his history of speaking truth to power, it is important to give him the benefit of the doubt and to approach the allegations with a balanced and fair perspective.
The allegations against the former CBN Governor Sanusi Lamido regarding the issue of a Tilapia swallowing a whale should be examined with care and skepticism. As someone who has worked tirelessly for the betterment of the Nigerian economy and has shown a commitment to transparency and accountability, it is important to consider his credibility and integrity in evaluating these claims. Ultimately, it is crucial to maintain a nuanced and balanced approach when assessing such allegations and to prioritize the pursuit of truth and justice.
As a former governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi has been at the center of a very serious allegation regarding the takeover of a bank, which resulted in a decrease in its asset and market capitalization. This allegation has stirred up a lot of controversy and raised concerns about the ethical practices of the banking industry in Nigeria.
The allegation claims that Sanusi Lamido supervised the takeover of a bank that had borrowed N15 billion from the same bank, despite having a low asset and market capitalization and stock market share of N1.10. Furthermore, it is alleged that the bank had a share capital of only N7.00 and a net asset of over N400 billion. Additionally, it is claimed that the bank fraudulently converted 20 shares of N7.00, totaling N140.00, to one share of N1.10.
The details of this situation are indeed perplexing and leave many Nigerians questioning the integrity of the banking system and those in positions of power. Despite the complexity, it is crucial for Sanusi Lamido to address these allegations and provide a clear, transparent explanation to the Nigerian people.
In response to these allegations, Sanusi Lamido must issue a public statement to clarify the circumstances surrounding the takeover of the bank in question. His statement should address the specific claims made against him and provide a comprehensive explanation of the decisions and actions that were taken during his tenure as the governor of the Central Bank of Nigeria.
Firstly, Sanusi Lamido should acknowledge the seriousness of the allegations and express his commitment to addressing them in a transparent and responsible manner. He should emphasize the importance of upholding ethical standards in the banking industry and acknowledge the concerns that have been raised by the public.
Next, he should agitate the significance of the allegations by highlighting the potential impact on the bank, its customers, and the broader financial system in Nigeria. By emphasizing the potential consequences of the situation, he can underscore the urgency and gravity of the matter at hand.
Finally, Sanusi Lamido should present a solution by providing a detailed account of the events that transpired leading up to the takeover of the bank. He should offer a thorough explanation of the decision-making process and the factors that contributed to the outcome. Additionally, he should address the allegations of fraudulent conversion and provide evidence to support his explanation.
It is imperative that Sanusi Lamido’s statement is clear, concise, and factual. He should avoid using technical jargon or convoluted language that may create confusion or mistrust. Instead, he should communicate in a straightforward and transparent manner, providing the necessary details to support his account of the situation.
In conclusion, the allegations against Sanusi Lamido regarding the takeover of a bank in Nigeria are very serious and demand a thorough and transparent explanation. Sanusi Lamido can effectively address the allegations and reassure the Nigerian people of his commitment to ethical governance in the banking industry. It is essential that he takes this opportunity to provide clarity and resolve any doubts or concerns that have arisen from these allegations.
Otunba Abdulfalil Abayomi Odunowo
National Chairman AATSG
18th February, 2024.
